Driehaus Capital Management LLC Boosts Stock Holdings in Globant S.A. (NYSE:GLOB)

Driehaus Capital Management LLC raised its position in Globant S.A. (NYSE:GLOB - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 265,380 shares of the information technology services provider's stock after buying an additional 10,472 shares during the period. Driehaus Capital Management LLC owned about 0.62% of Globant worth $56,903,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new position in Globant in the 4th quarter worth approximately $38,000. Kestra Investment Management LLC acquired a new position in shares of Globant in the fourth quarter worth $38,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant in the third quarter worth $40,000. Van Berkom & Associates Inc. acquired a new position in shares of Globant in the fourth quarter worth $45,000. Finally, Promus Capital LLC acquired a new position in shares of Globant in the fourth quarter worth $64,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GLOB has been the subject of several research reports. Susquehanna dropped their price target on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Canaccord Genuity Group lowered their target price on shares of Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research note on Monday, February 24th. Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. StockNews.com cut shares of Globant from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, Piper Sandler reduced their price target on shares of Globant from $230.00 to $154.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $204.00.

Globant Stock Performance

GLOB traded up $9.94 on Monday, hitting $138.73. 1,511,652 shares of the company were exchanged, compared to its average volume of 613,290. The business's fifty day moving average is $119.65 and its 200 day moving average is $179.98. Globant S.A. has a fifty-two week low of $96.23 and a fifty-two week high of $238.32. The firm has a market capitalization of $6.11 billion, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.